China: Tiantu Capital, Zhou Hei Ye to set up $475m investment fund

REUTERS/Petar Kujundzic

Listed Chinese fast food chain Zhou Hei Ya International has teamed up with venture capital firm Tiantu Capital to set up a Rmb3 billion ($475 million) retail investment fund, according to a recent disclosure.

The fund will mainly invest in the consumer industry and focus on market opportunities in the consumption upgrade and new retail field, Zhou Hei Ye, a food chain known for its spicy braised duck, told the Hong Kong Exchange.

Tentatively named Shenzhen Tiantu Xingnan Innovative Consumption Industry M&A Investment Partnership, the fund is jointly established by Tiantu Capital and its affiliate Tiantu Xing’an, both subsidiaries of Shenzhen Tiantu Equity Investment and Management, and Chusi Fangda, an indirect wholly-owned subsidiary of Zhou Hei Ye.

The total amount of capital contributions to the fund is Rmb3 billion ($475 million). Both Tiantu and Chusi Fangda will subscribe to Rmb500 million of the initial capital contribution, with Tiantu Capital acting as general partner. The subscription will be contributed in cash.

“By investing in the fund, the company aims to explore the industry synergetic resources and promote sustainable development,” Zhou Hei Ye said.

Zhou Hei Ya, a China-based investment holding company, is principally engaged in the production, marketing and retailing of casual braised duck-related casual food. It is listed on the main board of the Hong Kong Stock Exchange.

On the other hand, Tiantu Capital is a limited partnership and an indirect wholly-owned subsidiary of Shenzhen Tiantu. It is principally engaged in asset management, investment consultation, equity investment, and investment management.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.